The sex-obsessed, self-declared 'king' of a tiny Texas town has been found dead at his sprawling $30 million estate. George Coulam, better known as 'King George,' founded the Texas Renaissance Festival in 1974 and fashioned it into a two-month-long extravaganza that takes place every year in Todd Mission, 50 miles northwest of Houston. Coulam died on May 21, two weeks after he lost a $60 million court battle and was ordered to sell up the iconic festival. Grimes County Sheriff Donald Sowell immediately stated that there were no signs of foul play and that there was no threat to the community. On Wednesday, it was revealed that the 87-year-old died by suicide, according to Grimes County Precinct 3 Justice of the Peace Mark Laughlin. Coulam's death came shortly after a turbulent time in his life and a major setback in terms of his continued ability to run the festival that enjoyed its 50th anniversary last year. At least since last summer, Coulam has expressed a desire to retire from running the festival. An HBO documentary revealed this was because he wanted to have more time to focus on art, gardening and 'chasing p****'. Throughout the series, Coulam also talks about how much Viagra he takes and his desire to die with an erection. He even specified that he wanted to find 'a nice thin lady between 30 and 50 years old'. At some point, Coulam changed his mind because he decided not to relinquish control after all. The only problem was, he already agreed to sell all the faire's assets in 2023 to a group of investors. The investors — RW Lands, Texas Stargate, and Royal Campground — claimed that Coulam backed out after he received a down payment and closing costs from the trio. They said he ultimately failed to comply with the closing process, which was supposed to wrap up by August 8, 2023. They launched a $60 million lawsuit against the embattled king, who vigorously defended himself in court. The nearly two-year legal battle came to bitter end in early May, with a Grimes County judge ruling against Coulam and awarding ownership of the faire to the plaintiffs. Coulam was ordered to go through with the original deal, plus pay over $23 million in damages to the three companies who bought the faire. He was dealt yet another blow earlier this month, when he was defeated in a general election to be the mayor of Todd Mission by challenger Stephen Messing. Coulam had been the first and only mayor of Todd Mission, a town with just 121 people in it, since it was incorporated in 1982. Despite Coulam's tragic end and the lawsuit, the festival's organizers have pledged that the 2025 season will continue as planned. 'We are shocked and deeply saddened to hear of the death of George Coulam. Like everyone else who loves the Texas Renaissance Festival, we remain committed to ensuring that the festival lives on,' said Meril Rivard, president of Texas RF, Inc., in a statement. This year, it is scheduled to happen over eight weekends in October and November. Coulam will still loom large over the 2025 festival, as his mansion, Stargate Manor, still sits in the center of the 200 acres of land where the annual event takes place. The regal abode features a throne room, a gilt-adorned bedroom filled with 'regalia' and a custom, gold-plated golf cart. The grounds also feature a cathedral built for Coulam's personal use. The festival draws about half a million people each year to eat turkey, set up campsites and watch jousting competitions. It bills itself as the nation's largest Renaissance event and more, with a village filled with themed performances, foods, and displays. Coulam has previously expressed a desire to see his estate turned into a museum upon his death which will be open to the public.